In the wake of the sudden collapse of Silicon Valley Bank, Wrapbook, a company that provides payroll services for TV and film productions, said payments submitted through its platform will be subje…
On Thursday, March 9, investors and accountholders tried to withdraw $42 billion in funds from Silicon Valley Bank, according to a California regulatory filing — one of the biggest runs on a bank in more than a decade, according toOn Friday, the FDIC took control of SVB’s $175.4 billion in deposits. Up to $250,000 of customers’ holdings were insured by the regulator. Above that, the bank’s customers right now are in the dark about when they might be able to access their funds.
In the fourth quarter of 2021, investment firm Tiger Global Management led a $100 million Series B funding round in Wrapbook with new and existing investors including Jeffrey Katzenberg’s WndrCo, Uncork Capital, Andreessen Horowitz, A* and Equal Ventures. According to the company, that gave it a $1 billion valuation. Previously
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